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I am hoping figures will be out in July/August for Madrid in the form of a Trading Update. DC said reconciliations will be be much quicker for Madrid, compared with Frankfurt last year.
This will be a question I will be asking, whether there are plans for a TU following Madrid that is going to state profit for the event.
Agree that only numbers will ignite the rerate though (and maintain it). Their previous behaviour indicates they don't care much about valuation and comms, so we'll wait and see.
And to the doom mongers, ticketmaster is there for all to see.
Simple - DC should have come out and added context to the RNS. I understand the nomad were restrictive in the wording and that this is normal practise when announcing a matter such as change of auditor. It stated however the current auditor resigned, which is apparently not the case and it was a case of the auditor being upgraded by lvcg, which I'm sure you'll agree puts a different slant on things.
Why stick the boot in on days like this though. Bids has had a mare the past few days by the look of it, but I wouldn't dream of rubbing peoples noses in it. That is a business with real problems by the look of it, unlike here it could be argued, which is suffering more from a lack of resources, planning and terrible communication, instead of existential problems with its business model.
If what Sarah said is true, and they have passed 'extensive due diligence with flying colours' with a top 10 auditor, then this is all just short term noise and value will right out in the end. Ideal for a trade, on days like this. Shame I'm skint!
Agree simple with all your words apart from his opinion being as valid as mine. I struggle with the mentality of somebody who was a previous investor, who has an axe to grind, who comes rubbing it in on days like this. We're investors like him and he's seemingly relishing us losing money.
Anyway, it is not important. It is very disappointing that DC has not come out with any comms today. Another two fingers up to shareholders.
If this does turn round Guzzler, will you be as vocal and visible? I think not.
Hanging around and sticking the knife in on days like today. We're all investors like you, you do realise that don't you? What is wrong with you man.
Sarah has said old auditors not leaving, but they have upgraded to a top 10 auditor, who has done extensive due diligence, which they have passed with flying colours, but this extensive due diligence has pushed back timeframes. They will be working hard to get accounts done ASAP.
That is not the picture you get from the scary looking RNS this morning. I am getting sick of this company not having any regard for people heavily invested.
There is no excuse for the bad planning and zero communication yet again to shareholders, but I am believing Sarah's words and hoping that the future is as promising as the BN laid out. Only time will tell whether it was right to keep the faith but I wish they would for once but themselves in shareholders shoes and view the wording of these RNS's through the lens of an investor.
Firstly to say, ticket sales being ahead of the BN adds further to mismatch in valuation, even if £0 profit is generated from streaming, merch and sponsorship.
I do hope they are clear on streaming though. There were big expectations last year and It contributed to the lead balloon effect in the sentiment and subsequent SP fall.
Because of the RNS wording for Madrid, we are left wondering if streaming will be live. I suppose on the flipside, why wouldn't it be live? Why would event organisers and associated parties needlessly leave money on the table by not streaming the event live. Answer, surely they won't.
The only question everybody will want an answer to is how much £ cash LVCG will get per stream and will that figure be all profit? BN mentions the Doors deal, but that was a non-live stream and in that RNS, it stated for Frankfurt, no mention of further gigs.
As I say, there was initially a big expectation last year in this area, which turned out to be a damp squib, so hopefully they avoid this sentiment own goal this time around and are clear with comms + deals. Streaming for Frankfurt was announced about 6 weeks before the event last year, so we are overdue some news, based on that timeline.
I am glad for you simple that you have finally been able to recognise just how undervalued this company is. Well done
But the BN was never about a rerate for me. It was about having numbers out there that the board are accountable AND backing up what others had speculated from piecing the jigsaw together with info that was out there RE £2m profit for 2023
Detailed forward guidance adding meat to the BN bones in the EY accounts would be very welcome.
Also hope they are planning trading updates after firstly Madrid and then London. Market might start to take notice then.
I’ve never seen a BN rerate a share. At risk of stating the obvious, execute on the numbers, starting with Madrid, and then reporting on it asap and we’ll be heading towards that 11p.
I'm not a super backer of anybody. I am backing what I believe to be a mismatch in valuation. Posting your thoughts on here might come across as abit cheerleader'ery sometimes but for me it helps to cement in my head why I am invested. And to also look at about potential reasons/risk not to be invested, like the ones you've posed.
Why can't Jason Lee do what DC is doing on his own? Well, possibly a number of reasons. He holds a chunk of LVCG shares, is working within the company and will presumably want to see a return on his investment. DC is a great deal maker. Bringing these smaller bands together to sell out arenas was his brainchild. SBS is the key relationship, to what degree is JL involvement in that relationship we don't know. And these festivals are happening in Europe, bar the Japan gig. Does JL know the terrain in Europe and have the contacts? Not to mention, the festivals are all annually recurring, so if JL wanted to cut DC out of the loop, then he'd have to work on additional dates/countries, given KPOP LUX would already have Spain, UK, Germany tied up. Not to mention, I am guessing JL would be tied into some kind of competition clause. And if he'd wanted to go ahead with these European KPOP festivals, wouldn't he have attempted it previously.
Retired Banker, I believe the note is conservative in that kpop streaming, merch and sponsorship have been left out of the numbers. It remains to be seen what these generate but global live streaming could be nothing or it could be significant.
And on the face of it, 50% growth may seem optimistic but it could be as simple as adding another date in the calendar of each of the festivals. Or adding another location.
The BrickLive business was valued at multiples of where the marketcap is currently. I could understand some of these grumblings if we were at a £30-40m valuation but we are at all time lows, with now 4 divisions, one of which is going to generate more profits than anything else before it. And using 99.9% of AIM as a yardstick makes the valuation even more farcical.
Whilst I agree the note could have been more detailed, it does say that the projections are conservative. Is it not common practice to leave a relatively easy target to meet and exceed?
The company will be self sustaining, in a high growth market. Streaming revenue and prospect of further K-POP festivals provide the realistic and achievable potential for further gains.
The numbers in 2023, if achieved, is a turnaround compared with how numbers have looked since Covid and at £6-£7m, the Group still looks vastly undervalued to me. Maybe I am missing something.
We got to £25m mcap off the hype of one kpop show last year.
Now a bigger share of 4 recurring annual kpop shows, which are de-risked, via the licensing model / guaranteed revenue. Along with the experience of the first one behind them.
Lots of noise recently from people not invested but the facts were the Group was/is massively undervalued. This time, incoming rise will be backed up with fundamentals.
Lack of hype around LVCG down to a lack of placing flipper twitterati action over the past couple of years imo. BUT Fundamentals can do all the talking, when they arrive. Ticket sales and tangible revenue from tangible visible events, not some usual AIM pipe dream rubbish. This is riding on the K-pop trend, backed up with SBSs ability to attract the acts that sell the tickets. What a great position LVCG are in with the K-pop division.
Hopefully Madrid sell out is closely followed by the updated guidance. One of the risks is a lack of demand for K-pop tickets. Current sales and social media engagement are putting that risk to bed.
Why don't you offer a view then simple, instead of being a chocolate fireguard, offering absolutely f all to this board other than being the solace of 'blunt and fact' (in your own mind), offering nothing up yourself, on a share that you own f all of.
All well and good being 'blunt and factual' (in your mind) simple but maybe you could discuss what you think is a realistic p/e and be constructive. Or are you one of these people that find the negatives in everything yet offer up nothing yourself?
Many of the biggest 'live entertainment' business' are themeparks etc, so it is difficult to pinpoint an exact comparison like for like. Live Nation is the closest thing but they are a monster and also have the ticketmaster / tech side.
LVCG being in control will also mean cashflow greatly improved, with DC stating revenue will land in August and for London, October.
The number of updates from kpop lux and level of engagement from fans for Madrid have been very impressive.
London September line up even bigger apparently, so the engagement and hype around that 3 day event is going to be exciting times indeed.
When is this ship going to turn around ffs.
Why do RNS's with this company constantly throw shareholders under the bus.
What would the SP be I wonder if they had announced separately these 2 pieces of news. First the JL disappointment. Then the next day, announce the BL assets sale but give it some context. 'The sale of this set represents x % of the total sets/bricks/assets that BrickLive own'. Give shareholders a chance to value the inventory.
But yes, line ups for Japan nice and early would be welcome aswell. Instead of the strategy of winding fans up, expecting them to buy tickets with no acts announced.